How to Profit From Sports Gambling

The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for the majority of gamblers, this is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

There are two factors to consider to profit from sports gambling:

  • Bet Selection
  • Staking Plan

Bet Selection

The first, Bet Selection, is obvious – we need to back winners at least some of the time. Let’s consider Horse Racing, anecdotally there are many professional punters who earn a comfortable living from picking horses, but the key word here is professional. Research and analysis of each horse in the 59 racecourses across the UK takes a sizeable amount of time and experience. If you want to be successful then it’s a full time job! For the majority of us this means we have to use the advice of experts to do some of the legwork for us.

Horse Racing Tipsters

UK horse racing has no end of self-proclaimed “experts” on the Internet charging up to £100 per month. When selecting a horse racing tipster the most important factor we need to consider is long term results.

The Internet is awash with tipsters who have had one good month but then go on to post a loss for the next six – but you will only see this one month on their home page! Never follow any tips without first checking the tipster’s full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day along with a complete history of all their tips.

Take a look at a Tipster Proofing site such as Racing-Index who grades the results for a number of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile – can you actually place the 100s of tips each month some tipsters require?

Following tipsters alone is not likely to earn us riches – the best tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to develop our own system using tips from expert sources combined with our own research. This is the strategy successfully used in greyhound racing by followers of the site. As with most things; the more you put into your system the more you will get out.

Staking Plan

Once we have a betting strategy in place it is time to look at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a percentage of the current betting bank is wagered each time. This means as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

However, intuitively we know these staking plans to be overly naive as we would be putting the same amount of money on a horse with low odds compared to a horse with high odds. As we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we live in age where this research is at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.

Using an online Kelly Strategy Calculator just feed in the values to get the percentage of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would result in a slower accumulation of gambling profits but a less hair-raising ride.

The most important sports gambling advice to heed is only bet with funds you can afford to lose. Always gamble responsibly – if you feel you need help and advice with problem gambling visit http://www.gambleaware.co.uk.

Online Sports Betting – Everything You Need to Know

Online Sports Betting has been gaining popularity these last few years. The advancements in technology and the internet have contributed greatly in the development and improvement of sports betting. From the classic on the spot betting and televised betting, people of the right ages will also be able to enjoy sports betting through the internet. It is as simple as having your own computer or renting one, just make it a point to be sure that the computer has internet connection and in seconds you are on your way into enjoying the sports that you wish to place your bets on.

Sports betting online can feature different kinds and varieties of sports. From the famous horse racing, to tennis matches, football matches, baseball matches, motor racing, basketball and even cricket matches, you name it these online sports betting websites are sure to have it. Thousands of people in the United States as well as in Europe and some parts of Asia have already begun to get hooked with this kind of sports betting. Day by day there are hundreds of sports enthusiasts willing to test their luck while betting on their favorite sport through these numerous Online Sports Betting websites available as of today.

Truly this kind of sports betting can be a lot of fun. You can surely enjoy betting via these online betting websites by trying your luck but there are several things to consider before getting addicted into this kind of betting. First, make it a point to keep in mind that you cannot bet what you cannot afford. In fact, do not bet even a dollar if you do not have it. The one and only period that can be said to be safe in betting money in this kind of sports betting is when you can afford to lose it. Otherwise, you will be sacrificing money intended for other useful purposes such as food and clothing. Sports betting are full of fun and enjoyment, but getting addicted to it is gambling addiction that is a very serious problem that needs to be addressed as soon as possible.

Second, remember that you will be losing in this kind of betting. Since betting is a form of gambling, you should keep in mind that there are winners and there are losers. The ratio of winners against losers is about 1:10, so expect that you will be losing a lot, especially during your first try. If you win in your first try then you are extremely lucky as the other persons that betted with you lost there money. Try to learn through the first couple of losses that you experience as having experience will be a lot of help to you in knowing how to play against the odds.

Third, make sure that you know the sport that you are betting on. A basic knowledge will suffice, but a thorough knowledge will be a big help to you in making the right bets. You should know the basics as well as the advanced rules regarding your favorite sport that you wish to bet upon in order for you to assess on who or what to bet against other betting fanatics. By having this basic knowledge you will be on your way into making good and fruitful bets in no time at all.